CSS-LKT – Can We Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
CSS-LKT- DO NOT TRADE WITH THIS PROVIDER
2.5/10
$100
Minimum Depositupdated 2024
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://csslkt.com
Founded: 2024
Regulations: Unregulated
Languages: English
Deposit Methods: Cryptocurrencies
Minimum Deposit: $500
Free Demo Account: N/A
Number of Assets: N/A
Types of Assets: Raw Materials, Currency, Cryptocurrencies, Stocks
Trading Accounts and Conditions
CSS-LKT is offering their clients the following types of trading accounts:
- Newbie: The minimum initial deposit is $500. Leverages for cryptos are at 1:20, for stocks are 1:50, for currencies are 1:50, and raw materials are 1:50.
- With Experience: The minimum initial deposit is $25,000. Leverages for cryptos are 1:20, for stocks are 1:50, for currencies are 1:50 and for raw materials are 1:50.
- Professional: The minimum initial deposit is $50,000. Leverages for cryptos are 1:20, stocks are 1:50, currencies are at 1:50, and for raw materials are at 1:50.
Spreads, commissions and other trading conditions are not mentioned. However, when we checked their trading platform, we found out that the spreads started at 0.6 pips for the top 3 currency pairs.
CSS-LKT – Advantages
There are no advantages to trading with CSS-LKT.
CSS-LKT – Disadvantages
CSS-LKT is a scammer, and here is all the proof:
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Lack of Regulation
The first issue we have with CSS-LKT is their anonymity. The broker claims to be based in Monaco, and gives us a phone number in that country. However, when we checked this broker’s Customer Agreement, we found out that the so-called place of business is in Belize, not Monaco. Added to this, the broker claims to be regulated by financial market commissions as well as independent global institutions, however, the broker does not give us the names of these so-called institutions and financial market commissions.
The truth is this. To operate out of Monaco, a broker needs to be licensed by the Monaco Financial Activities Supervisory Commission. And, to operate out of Belize, the broker needs to be regulated by the Financial Services Commission of Belize.
Checking the online registers of both financial authorities revealed that CSS-LKT is not licensed by or even registered with either of them.
This lack of registration and contradictory locations clearly tell us that we are dealing with an anonymous scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Blacklisted by Bank of Russia
While we searched for this broker’s regulation status, we found out something very interesting. The Bank of Russia, the Russian financial regulator has blacklisted this broker. The Bank has issued a warning to all Russian traders, stating that this broker is operating illegally in their country and that they believe this broker is a scammer.
A warning such as this is more than enough proof that a broker is a scammer and therefore not to be trusted in any way.
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Issues with Trading Terminal
CSS-LKT does not mention anything about their trading terminal anywhere on their website. And after checking the live terminal, we can see why.
The trading platform this broker offers is nothing more than basic. It is web-based, and does not allow you to do more than buy and sell the assets listed there. It cannot even compare to the MetaTrader 4 and MetaTrader 5 trading platforms, which are used by more than 80% of market.
The trading platform is the main product a broker offers their clients. So, legitimate brokers will buy only the best trading interfaces for their clients. This usually means either the MT4 or MT5 platforms, and many times, both.
When a broker offers a platform that is almost non-functional, then you know that they are not looking out for their clients best interests. In fact, it is a clear sign that they are not to be trusted at all. Such brokers are almost always scammers.
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Issues with Trading Conditions
CSS-LKT claims to offer their client comfortable trading conditions. It is an unusual way to describe trading conditions. Brokers usually describe their trading conditions as competitive or fair or advantageous.
Let us look at the information that this broker as provided about their trading conditions now.
The minimum initial deposit that this broker demands is too much. We are told you need to fund your account with a minimum of $500. The industry standard ranges between $100 and $250. There are also many noted brokers that allow for deposits that are as low as $10.
As for the leverage ratios, they are really skewed. A leverage of 1:50 for currencies is slightly higher than what is legal in Europe, the UK and many other countries. However, the crypto ratio is massive at 1:20. The standard is 1:2. Such high leverage ratios are really dangerous, especially when you are dealing with an unregulated firm such as CSS-LKT.
The spreads are not mentioned on their account types. We had to glean that information from their trading platform. While the spreads look quite attractive, they do not tell us the real price of a trade. The cost of a trade is calculated by added the spreads and the commissions. So, without information on commissions, we do not really know if it will be advantageous to trading with this broker.
Other trading conditions are also not specified.
This is the main service (along with the product, the trading platform) that a broker provides. Issues with this tell us that we are dealing with a less than honest broker.
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Issues with Payments
The only way to make payments with CSS-LKT is via cryptocurrencies. This is a huge red flag because transactions in cryptos are dangerous. Crypto payments are permanent, untraceable and anonymous. So, if you are dealing with a new broker that only offers cryptos as a payment method, then it is highly suspect.
This is the reason why we recommend that you use a safer payment method such as credit cards when dealing with a new broker. If you are scammed, you can at least file for a chargeback.
Conclusion
CSS-LKT is a scam operation that needs to be shut down as soon as possible. Trusting this broker would mean a loss of funds.
CSS-LKT
Pros
- None
Cons
- Lack of Regulation
- Blacklisted by Bank of Russia
- Issues with Trading Terminal
- Issues with Trading Conditions
- Issues with Payments
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more